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Kingbird Inc's bank statement from Main Street Bank at August 31, 2022 gives the following information $ 18,500 71,100 $ 35 Balance, August 1 August
Kingbird Inc's bank statement from Main Street Bank at August 31, 2022 gives the following information $ 18,500 71,100 $ 35 Balance, August 1 August deposits Checks cleared in August Bank credit memorandum: Interest earned Bank debit memorandum: Safety deposit box fee Service charge Balance, August 31 68,668 60 20,892 55 A summary of the Cash account for August shows the following: balance August 1, $ 18,800; receipts $ 74,100; disbursements $ 73,560; and balance, August 31, $ 19,340.Analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $4,810 and outstanding checks of $4,510. In addition, you determine that there was an error involving a company check drawn in August: A check for $400 to a creditor on account that cleared the bank in August was recorded for $40. a (a) Your answer is correct. Determine deposits in transit. Deposits in transit 7810 eTextbook and Media List of Accounts (b) Your answer is correct. Determine outstanding checks. (Hint: You need to correct disbursements for the check error.) Outstanding checks $ 9762 eTextbook and Media Prepare a bank reconciliation at August 31. (List items that increase balance as per bank & boots first) KINGBIRD INC Bank Reconciliation > S s S > > > S S e Textbook and Media
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